ERNI Rebounds

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I’ve been remiss in updating this blog in recent weeks, so I’ll try to make up for it. First, the Edwards Real Nanotech Index (ERNI) bounced back somewhat last week, improving by over 5%. Abraxis BioScience, NVE Corp. and Luna Innovations were responsible for most of the improvement, each up more than 20%.

ERNI component Altair Nanotechnologies nearly doubled its revenues from year ago levels, breaking the $1 million dollar mark for the second quarter.. Batteries, battery packs and battery systems were given credit for the increase. However, the company is still operating at a loss, losing 6 cents a share in the quarter.

FEI Company also reported record bookings and revenue for a second quarter, but the latter was up just 5% from year ago levels. Revenues came in at $113.1 million, but the backlog was over $243 million. Earnings were $4.1 million or 11 cents per diluted share. The company’s Titan electron microscope, which has sub-atomic resolution, is responsible for much of the backlog.

Not to be outdone, Nanophase Technologies also posted record second quarter revenue, at 2.4 million, 15% above last years levels. Their quarterly loss stayed the same at $1.1 million or 6 cents per share. During the second half of 2006, Nanophase anticipates introducing new nanomaterials targeted for antimicrobial, catalyst, and architectural and industrial coating applications.

Harris & Harris, a venture capital firm, announced that it has invested $18 million in “tiny technology” to date in 2006 vs. $16 million in all of 2005. Its net asset value was $5.68 per share vs. a stock price currently of $9.70. The net asset value is up about $1.00 from a year ago. Jack Uldritch of Motley Fool, recently recommended H & H as a play on intellectual property, citing specifically its holdings in Nanosys, Nantero, Nanomix, and Molecular Imprints.